A production possibility curve is concave to the point of origin because of

Related MCQs

• The MC curve cuts the AC curve at
• The minimum point of ATC is at.............. position of the minimum point of AVC
• The Long run Average Cost curve (LAC) in modern cost theory is roughly
• Under increasing returns to scale, which of the following is the nature of the long run average cost curve?
• AFC curve will always be
• The U shape of MC curve reflects
• Envelope curve is
• The U shape of the average total cost curve reflects
• If the long run cost curve shifts down wards it is an indication of
• Indifference curve is always